8.
| (1) If the profits of a business carried on by a charitable institution are applied solely to a charitable purpose of that institution and either the business is carried on in the course of the actual carrying out of a primary purpose of that institution or the work in connection with the business is mainly performed by beneficiaries of that institution, such profits shall be exempt from income tax. |
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| (2) Where a charitable institution which receives grants from the Government of Ceylon and which is approved by the Minister for the purposes of this sub- section carries on any business of a casual nature for the charitable purpose of that institution, the profits of such business shall be exempt from income tax. |
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| (3) The net annual value of any place of public worship and its premises administered by a charitable institution shall be exempt from income tax. |
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| (4) The net annual value of any place or premises owned and occupied by a charitable institution solely for any of the purposes of that institution shall be exempt from income tax. |
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| (5) The profits and income from any property donated by royal or other grant before March 2, 1815, to any place of public worship administered by a charitable institution shall, in so far as such profits and income are applied to the purposes for which such grant was made, be exempt from income tax. |
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| (6) Where the assessable income for any year of assessment of a charitable institution does not exceed four thousand rupees, such income shall not be taxable. |
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| (7) The amount of the income tax payable for any year of assessment by any charitable institution shall not exceed the amount of the assessable income of such charitable institution for that year of assessment reduced by four thousand rupees. |
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Sri Lanka Consolidated Acts